Nomura picks shares in outperforming small cap stocks

main Nomura Singapore bought 11.5 thousand shares of a travel service provider today. NSE Bulk transaction data shows that Nomura bought shares at Rs 399/share.

Share of Easy Trip Planner, listed on Dalal Street last year at Rs 212.25 on the NSE last March, ending the day 3.8% lower at Rs 393.50.

Small-cap stocks that hit a 52-week low of Rs 261 in March this year are up about 47% year-to-date.

In its June quarter results, the travel technology startup reported a 125% increase in net profit to Rs 33.7 compared to a net profit of Rs 14.9 in the same quarter a year ago.

Earnings for the online flight and hotel provider, which operates under the EaseMyTrip brand, was supported by a strong demand recovery in the global travel segment.

“We have seen a strong recovery in demand across our segments and are optimistic about the future demand outlook thanks to our ‘No Charge Convenience’ strategy, deeper internet penetration and demand for air travel and hotels increased due to higher income levels and the reopening of the economy,” Easy Trip said in a presentation to investors last week.

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